Jim Maloney of Corillian and George Tubin of TowerGroup to co-present on strategies for financial institutions for preventing online fraud
PORTLAND, Ore - Jan. 5, 2006 - Corillian Corp. (NASDAQ: CORI), the top provider of online banking, online payment and anti-fraud solutions to the financial services industry, today announced that Corillian and guest speaker TowerGroup are scheduled to address the recently released FFIEC guidelines on stronger authentication and best practices in preventing online fraud and identity theft in a Web cast hosted by Microsoft on Thursday, Jan. 12, 2006 at 12:00 noon EST.
Attendees of the Web Seminar will hear TowerGroup’s senior analyst George Tubin and Jim Maloney, Corillian’s chief security executive, as they discuss what the new guidelines mean for the financial services industry and best practices for financial institutions in combating online fraud. Tubin and Maloney will also discuss how financial institutions can protect their online banking users and comply with these federal guidelines without compromising the convenience, usability and consumer confidence of the Internet.
According to TowerGroup, a leading advisory research and consulting firm focused on the financial services industry, direct losses attributable to phishing and other forms of fraud were estimated to be $137 million in 20041. However, awareness of online scams has also resulted in the erosion of consumer confidence in the online financial services channel. Attacks victimizing online consumers and service providers are evolving, becoming both more complicated and more sophisticated. The recently updated FFIEC authentication guidance further punctuates the need for financial institutions to seriously consider stronger forms of authentication to help prevent these and other attacks.
This Web cast is part of the Microsoft Momentum Web cast series. Microsoft Momentum is designed for growing and midsize organizations, providing expert advice, tips, and techniques to drive your business forward. To register and for more information, please visit http://msevents.microsoft.com/CUI/EventDetail.aspx?EventID=1032287025&Culture=en-US
About Corillian Corporation
Corillian is the market leader of online banking, bill payment and fraud prevention applications to the financial services industry. Corillian's fraud prevention solutions use Preemptive Forensics™ to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. With 28 of the top 100 U.S. banks and 20 of the top 100 U.S. credit unions as customers, Corillian serves over 25 percent of the online banking community. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian features integrated applications across Consumer Banking, Small Business Banking, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Payments Warehouse, Alerts, eStatements, and OFX. Empowered by Corillian solutions, some of the world’s most visionary financial institutions provide their online users with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company’s Web site at http://www.corillian.com.
# # #
1 TowerGroup Research "A Phish Tale? Moving From Hype to Reality," John Gould, George Tubin, Beth Robertson, Nov. 2004
For more information contact:
Phone: (503) 629-3770
Phone: (206) 267-2003